UPDATE 1-GE to sell real estate holdings, sets $50 bln share buyback

April 10, 2015 11:10 AM

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April 10 (Reuters) - General Electric Co said it would sell the bulk of its real estate portfolio to investors including Blackstone Group and Wells Fargo & Co for $26.5 billion, in the biggest commercial real estate deal since 2007.

The company, which has been refocusing on its industrial businesses, also said its board had authorized a share repurchase program of up to $50 billion.